O'neill co. has $296,000 in accounts receivable on january 1. budgeted sales for january are $860,000. o'neill expects to sell 20% of its merchandise for cash. of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. what are the projected cash collections for the month of january?

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answerjointly by the fed and by the behavior of individuals who hold money and of banks in which money is held;